S&P gives AmanahRaya BBB-

Standard & Poor's said it assigned its BBB- corporate credit rating to AmanahRaya Real Estate Investment Trust.

The outlook is stable.

The rating on AmanahRaya reflects its robust rental income, long lease maturity profile, high level of tenant security deposits and above-average asset quality with high occupancy rates, the agency noted.

S&P said that the rating on AmanahRaya is contingent on an IPO and initial asset acquisition proceeding as planned, adding that the corporate credit rating reflects robust rental income, supported by long lease maturity profile.

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